Hugh Panero Selected PBI Media LLC’s Via Satellite - Satellite Executive of the Year 2002
As Satellite Executive of the Year 2002, Panero will be featured as Via Satellite magazine's "Executive of the Year" on the cover of the March 2003 issue. He will present the Satellite Executive of the Year 2002 luncheon address at PBI Media LLC's annual international conference and exhibition, SATELLITE 2003, on Thursday, February 27, 2003, in Washington, D.C. The conference runs February 26-28, at the Washington D.C., Convention Center.
XM Satellite Radio established itself as one of the fastest-selling audio products in the last 20 years, bringing recognition to the satellite industry for expanding its technology beyond military, voice, data and television uses.
XM ended 2002 reporting more than 360,000 subscribers and solidifying roughly $475 million in new funding. These significant achievements happened during one of the most socially and economically challenging times in recent history for doing any sort of business.
“This was a very challenging year for the commercial satellite industry. Many companies shifted business focus to try to survive, financing sources remained thin and lack of industry-wide innovation continued. But not for XM,” commented Via Satellite Editor Nick Mitsis upon making the selection announcement. “The startup service provider not only survived current market conditions, it grew and proved success can be achieved even during hard times.
“Moreover, gaining customers’ loyalty for a new product and getting manufacturers to buy into a new service is a worthy achievement. XM Satellite Radio sets an example of how this can be successfully achieved and none of it would have been made possible without Panero’s leadership.”
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